Nigeria’s Inflation Eases to 14.63% as Food Inflation Edges Higher

What changed

Nigeria’s headline inflation rate eased to 14.63% in September 2026. But food inflation moved slightly higher, reaching 19.59% year-on-year from 19.57% in August, though it remained below the 20.16% recorded in September 2025.

Why it matters

The headline figure is moving in a better direction, but the food number tells a less comfortable story. For households and food retailers, prices in the grocery basket were still rising faster than the overall inflation rate.

That gap matters because a lower headline rate does not automatically mean everyday food purchases are getting cheaper. September’s food inflation was only marginally above August’s level, so the immediate change was small. The clearer improvement is measured against a year earlier, when food inflation was higher.

The practical reading is cautious: Nigeria’s inflation picture improved overall, but food pressure has not yet turned decisively lower.